By Special Correspondent
PUNE/CHICAGO: With an aim to help investors, businesses, entrepreneurs and startups during the COVID-19 pandemic times, world’s First Halal Angels Network was launched today. The Network would provide huge market opportunities to tap the $5 trillion worth Halal consumer global market. The halal market is expected to grow USD 9.71 trillion by 2025.
It is founded by Indian American Dr. Tausif Malik, who is a serial entrepreneur based out of Pune, India, and Chicago, USA.
He said India is the biggest manufacturer of Halal consumer goods and has huge market opportunities in the Middle East, North Africa, and Southeast Asia.
Halal Angels Network would be the 1st Angels Network backed by Blockchain technology. The areas of interest for investments would be future technologies (Blockchain, Fintech AI, etc), Modest Fashion & Cosmetics, Retail, Pharmaceuticals, Food Cafe & Restaurants, Processed Food & Tourism.
According to him, it is an extension of his earlier initiative of All India Muslim Business Startup Network (AIMBSN), India’s only (AIMBSN) is a very unique business ecosystem and the objective of the All India Muslim Business Startup Network (AIMBSN) is to create an entrepreneurial spirit and participation amongst the Indian Muslim community, so they can participate and contribute back to the economic activity of their motherland INDIA.
Halal Angels Network would be based on the traditional format of Angels Network where membership would be offered to Angel investors, Investment corporations, organizations, and, startup and they could network with each other for investments and business.
The founder Dr. Malik said, ” 15% of Indian population is Muslims and they can participate by their contribution of $1 trillion in the Government of India’s vision of $5 trillion economy by 2024″.
Halal Angels Network is also setting up offices in GCC, Europe, and South East Asia. Halal Angels Network would be hosting Halal Angels & Venture Capital Two Day Summit 2021, for Networking, Startup Showcase & Strategic Partnership.
” When discussed this idea with the investment and startup community; they all got excited about the Halal Angels Network platform and the consensus was this would be win-win situation for everyone to overcome the COVID-19 pandemic”, he added.
About Halal Consumer Market
• The Global Halal market size is expected to reach USD 9.71 trillion by 2025 (Reuters, 2019).
• The economic development of leading Islamic countries such as India, Indonesia, Malaysia, Pakistan, Nigeria, and Iran is expected to boost the global halal products market reach over the coming years (Reuters, 2019).
• Comprising halal food, travel, cosmetics, modest fashion, and Islamic finance, demand for goods and services that align with Islamic principles is on the rise, but just $745 million in disclosed private equity investment was invested in the Islamic economy over three years, far less than the $595 billion in private equity and venture capital investments that occurred globally in 2017 according to the report.
• Asian Muslim tech startups hope to lure Islam’s 1.8bn followers.
• Muslim communities are as technology savvy as any other, especially their younger members who form part of the global rise of ‘millennials’ and their forward-thinking, can-do mindset. With the breaking down of borders through digital platforms, it is easier than ever for Islam-centric entrepreneurs to access the global Muslim population of 1.7 billion people.